029 Group SE

Earnings Release • Feb 27, 2003

News Details

Ad-hoc | 27 February 2003 08:40

Phoenix AG english

EBIT up significantly Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Phoenix AG announces provisional results for the 2002 financial year. At EUR 1,127 million, revenues reached the previous year’s good level of EUR 1,133.7 million. After restatement to reflect the sale of the company’s Ever-gomma location and its offset blanket activities, consolidated revenues were up 2.8% from the comparable figure a year earlier. On the basis of provisional figures, Phoenix AG will report earnings before interest and taxes in the amount of approximately EUR 30 million for the 2002 financial year, which represents a significant increase over the comparable figure of EUR 25.8 million a year ago. Segmental Information (approximately figures): Comfort Systems (CS): Revenues EUR 530 million / +5.0% of which CS Automotive: Revenues EUR 450 million / +4.7% of which CS Traffic Technology: Revenues EUR 80 million / +6.4% Fluid Handling (FH): Revenues EUR 336 million / -2.9% of which FH Industry: Revenues EUR 117 million / -6.3% of which FH Automotive: Revenues EUR 219 million / -0.9% Conveyor Belt Systems: Revenues EUR 129 million / -11.8% Other Business Units: Revenues EUR 132 million / -3.2% Outlook for 2003: 2003 is likely to be another difficult year for die German economy. Prospects for a rapid economic recovery are dim. The unresolved Iraq conflict continues to cast a shadow over the world economy, which makes it difficult to predict what the months to come will hold in store. Further turbulence on the currency, financial and commodities markets cannot be excluded. In view of these risks, Phoenix AG will not make any forecasts for the 2003 financial year at the present time. end of ad-hoc-announcement (c)DGAP 27.02.2003 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: MDAX Listed: Amtlicher Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg und München; Geregelter Markt in Bremen; Freiverkehr in Stuttgart 270840 Feb 03